What Listing Your House Is Really Costing You In Indianapolis

You might believe that listing your house with a real estate agent is your only choice when it’s time to sell. However, an increasing number of people are exploring the option of selling to a direct home buyer in Indianapolis instead. Selling your house is an extremely important undertaking, so it’s essential to consider all your options and understand the true costs associated with the different ways of selling before you just sign a contract with an agent.

To be frank, not every house thrives on the traditional real estate market. Some properties demand significant investments of both money and time to sell effectively. Studies suggest that selling a house with an agent in Indianapolis can cost upwards of $15,000 in total expenses! Before committing to hiring a Indianapolis agent, it’s crucial to grasp the full financial implications of selling your house through traditional channels.

Commissions

When listing your house with a real estate agent, the commissions you’ll eventually pay to the agent can range between 5-7% of the eventual sale price. While there are instances where this fee is justified, it’s essential to recognize that this amount will be deducted from your final sale proceeds at the closing, regardless of how long it takes the agent to sell the house or how well you feel they performed during the process. This means you’ll instantly be out several thousand dollars once the deal is sealed whether you’re happy with the result of the agent’s efforts or not.

Administrative Costs

Often, you’ll encounter additional expenses that agents or their brokerages like to refer to as administrative costs. These are over and above the commission they charge and may include reimbursements for items like flyers, listing fees, catering for open houses and other fees the brokerage or agent imposes to manage the transaction (aka, complete documents). These costs can vary depending on the agent you work with. Before committing to listing your house with any particular agent, it’s crucial to fully understand what additional fees will be charged to you on top of the commission and what you’re getting for those fees.

Cleaning

It’s generally advised to have your house professionally cleaned before listing it in Indianapolis. If you’re not replacing the carpets, then it’s probably a good idea to have them professionally cleaned too – especially if you have kids or animals, or if the carpets just generally look tired or smell funny. When listing your house for sale on the MLS, it’s not just important to get it clean in the first place, but also to maintain a constant state of cleanliness as there may be last-minute showings or potential buyers dropping by to view the house.

Staging & Storage

Ideally, there will be a steady stream of people visiting the house. Your agent can typically arrange showings during times when you’re away, such as when you’re at work or out for the day. To prepare for the increased foot traffic, many sellers choose to start packing early by boxing up personal items and storing them until the house sells. This keeps the house looking tidy and avoids clutter. Additionally, prior to listing your house for sale you might consider hiring a professional to stage the house for added appeal.

Repairs And Upgrades

Depending on the house’s condition, these expenses could vary from minor to significant, potentially costing you thousands. Most homeowners (and house flippers!) are familiar with the scenario where one repair leads to several more so don’t be surprised if that starts happening to you. Additionally, after the home inspection, buyers may request further repairs, which could necessitate negotiation. While you’re not obligated to address all repairs, some negotiation may be prudent if you’re keen on selling the house.

If your house is noticeably outdated compared to others on the market, refreshing certain aspects to modernize it can be beneficial. Simple improvements like new flooring, painting, and fixtures can have a significant impact. However, similar to repairs, these costs can escalate quickly, possibly requiring multiple trips to the hardware store. We recently posted a blog article about just this topic, and you can find it here.

Landscaping

Prior to listing your house for sale, you should try to enhance the outdoor appearance and curb appeal of your property to boost its curb appeal. This might involve reseeding the lawn, adding flowers along the driveway, or having trees expertly trimmed. Maintaining these improvements while the house is listed is crucial, and may entail regular mowing, weeding, and sweeping. Depending on your neighborhood and schedule, you might opt to enlist the services of a professional landscaping company to ensure the property looks its best throughout the listing period.

Monthly Responsibilities

As you already know, owning the property comes with daily expenses that can quickly add up. From monthly utilities and taxes to insurance and mortgage payments, not to mention ongoing maintenance costs, each day you hold onto the property means more money out of your pocket. Flippers understand this and strive to sell as quickly as possible to minimize these expenses – and you should too. Hopefully when making comparisons of the different house selling methods, you don’t fail to account for these costs that come into play largely when listing your house for sale on the MLS.

When you tally up all the little expenses over time, it’s easy to see how the bills can pile up. Selling a house in Indianapolis through an agent can be flat out costly. To save both time and money, consider selling to a cash home buyer in Indianapolis like 317 Home Buyers. We buy houses as-is and won’t charge you any commissions, fees or closing costs. Before signing a contract with an agent, find out how we can help you like we’ve helped so many of our neighbors!

Are you ready to sell a house in Indianapolis? We can help! Send us a message or give us a call today! 317-623-4734

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